Ross statement
- Tariffs will be 25% on steel and 10% on aluminum
- Argentina, Australian and Brazil have agreed to quotas,
- Decision on tariffs on Mexico and Canada was taken after NAFTA talks took too long
- Talks with EU have made progress but not enough to give continued exemptions
- There is no longer a precise date when NAFTA talks will conclude
- If any party retaliates, that means there can't be more negotiations
- There is potential flexibility to make changes, Trump has ability to do anything he wishes on trade
I don't understand why the market isn't more worried about this. Retaliatory tariffs are coming. Those countries aren't just going to roll over.
